Financial Reporting

Financial Reporting

Financial reporting provides decision makers with financial information they need to make informed decisions and is the responsibility of the administrator of the public funds. There are two types of financial reporting. Internal reporting is directed towards management and elected officials to provide them with financial information they need to manage the government daily. External reporting is designed to meet the needs of stakeholders without direct access to the information contained in the government accounting system, such as citizens, grantors, investors, creditors, and oversight bodies.